The Financial Technology Report is pleased to announce The Top 100 Financial Technology Companies of 2023.
The Financial Technology Report is pleased to announce The Top 100 Financial Technology Companies of 2023. In a mere two decades, the world of fintech has taken center stage, fundamentally reshaping the financial services industry. No longer a niche market, the world of fintech has gained serious momentum for a number of reasons. This includes a surge in capital investments, increased endorsement from policymakers and regulators on a global scale, and a marked enhancement in the quality and quantity of fintech talent.
Moreover, a key catalyst for industry growth has been the growing number of partnerships between fintech firms and traditional financial institutions. These newfound collaborations have not only enabled large, established organizations to diversify and enhance their offerings but have also introduced the broader public to the potential of financial technology.
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As the adoption of fintech services has steadily risen, so too have the returns. Today, the financial services industry as a whole is both massive and highly lucrative. According to a report from EMR, the global fintech market reached a valuation of $194 billion in 2022 and is projected to reach $493 billion by 2028, boasting a compounded annual growth rate of 16.8%. With over half of the world’s population still lacking access to adequate banking services or being underbanked, the transformative force of fintech is poised to further expand its global customer base.
This year’s selection showcases a wide array of companies, spanning both emerging players and established financial giants. Notable recipients of recognition include Intuit, lauded for its unparalleled standing as a leading provider of fintech software. Renowned for crafting iconic financial software tools like QuickBooks, TurboTax, and Credit Karma, Intuit amassed an impressive $12.7 billion in revenue in the past year.
In a parallel vein, we find the nimble startup Nesto, which has successfully secured a total funding of $130 million since its inception in 2018. With a dedicated team of over 200 employees committed to their mission, Nesto continues to revolutionize the property financing experience for Canadians. Another exemplary case is Fundbox, a company that has garnered acclaim on prestigious lists such as Forbes AI 50. Fundbox’s unwavering commitment to empowering small businesses with indispensable fintech solutions has already facilitated the disbursement of more than $3 billion in working capital since its establishment in 2013.
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